Global Home Networking Device Market to Reach US$23.24 bn by 2023, China and South Asia to Report Strong Growth

According to a new market report published by Transparency Market Research “Home Networking Device Market (By Solution – Wired and Wireless; By Wired Type – Network Line and Powerline; By Wireless Type – Wi-Fi and, ZigBee and Z-Wave; By Component – Hub and Switch, Router, Extender, Adapter, and Wireless Access Point (WAP))– Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023,” the global home networking device market is expected to reach a value of US$23.24 bn by 2023. The market is estimated to expand at a CAGR of 7.0% during the forecast period from 2015 to 2023. In terms of volume, the home networking device market stood at 444.8 Mn units in 2014 and is expected to increase at a CAGR of 10.1% during the forecast period from 2015 to 2023.

Asia Pacific is expected to be the fastest growing market in terms of volume for home networking devices at an estimated CAGR of 11.5% during the forecast period (2015 – 2023). Due to increasing adoption of wireless home networking devices, the adoption of routers, extenders, and adapters is expected to increase which would contribute to the volume growth in the Asia Pacific region. China and South Asia are expected to see substantial growth in adoption of home networking devices due to improvements in the telecommunication sector in these regions and growing demand for high speed internet.

North America is expected to witness substantial adoption of wireless home networking devices due to high demand for Wi-Fi based devices. Adapter sub-segment accounted for considerable market share in terms of volume in North America due to high adoption of wired and wireless adapters. EU7 countries was the largest geographical market segment in Europe in 2014 with a market share of about 44%. Faster adoption of new technologies is expected to boost the Wi-Fi home networking device market in Europe. In 2014, routers accounted for maximum market revenue in Europe under component segmentation. Network line is expected to account for maximum share in wired home networking devices in Europe during the forecast period. The adoption of wired home networking devices is projected to be higher compared to wireless home networking devices in the MEA region during the forecast period. This is due to slow technological adoption among African countries as compared to Rest of the World.

Network line based home networking devices are expected to contribute maximum market revenue in the wired segment over the forecast period. Low popularity of powerline devices in MEA is expected to reduce the market share of powerline segment in the coming years. Latin America is also expected to follow a trend similar to the MEA wired home networking device market. Hub and switches contributed largest market share in terms of volume in Latin America in 2014. Brazil is expected to remain the largest market for home networking devices in Latin America in the coming years.

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